Limbach (NASDAQ:LMB) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Limbach (NASDAQ:LMB) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $100.00 target price on the construction company’s stock.

LMB has been the subject of a number of other reports. Stifel Nicolaus reduced their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Limbach Price Performance

LMB opened at $89.66 on Tuesday. The firm has a market capitalization of $1.04 billion, a P/E ratio of 29.49 and a beta of 1.29. The stock has a fifty day moving average of $79.28 and a 200-day moving average of $93.94. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach has a 12-month low of $63.02 and a 12-month high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The business had revenue of $184.58 million for the quarter, compared to analysts’ expectations of $184.48 million. Limbach had a net margin of 6.06% and a return on equity of 30.80%. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities analysts forecast that Limbach will post 2.54 EPS for the current fiscal year.

Limbach declared that its Board of Directors has approved a stock buyback program on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares in the company, valued at approximately $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its position in shares of Limbach by 23.7% during the 4th quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock worth $4,739,000 after purchasing an additional 11,644 shares during the last quarter. PFG Advisors increased its position in Limbach by 25.2% in the 4th quarter. PFG Advisors now owns 10,355 shares of the construction company’s stock worth $806,000 after buying an additional 2,084 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Limbach by 13.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,555 shares of the construction company’s stock worth $432,000 after buying an additional 673 shares during the last quarter. Cassilly Financial Group LLC acquired a new stake in shares of Limbach in the fourth quarter worth $251,000. Finally, SG Americas Securities LLC increased its position in Limbach by 42.6% during the fourth quarter. SG Americas Securities LLC now owns 2,325 shares of the construction company’s stock worth $181,000 after acquiring an additional 695 shares during the period. 55.85% of the stock is currently owned by institutional investors.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.